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Rauner’s budget a wake-up call for lawmakers

2/14/2018

Economic growth a must for achieving financial stability in Illinois

SPRINGFIELD, Ill. – The Illinois General Assembly’s top priorities this legislative session must be to pass economic reforms and a balanced budget, said State Senator Paul Schimpf (R-Waterloo) following Governor Bruce Rauner’s Budget Address at the Illinois State Capitol in Springfield.

"Today's budget proposal should be a wake-up call to anyone who thought we could achieve fiscal stability by simply raising taxes,” said Schimpf. “The increased infrastructure and education spending that Illinois needs requires economic growth to generate the necessary funding. I hope the General Assembly will not repeat last year's mistakes. This spring we need a budget that is truly balanced, accompanied by pro-growth reforms."

While the General Assembly did pass a budget last year which ended a two year budget impasse, it was $600 million out of balance and the FY18 budget plan permanently raised the personal income tax rate from 3.75 percent to 4.95 percent, and the corporate income tax rate from 5.25 percent to 7 percent.

Eight for ‘18

“When I announced my 2018 legislative priorities at the end of January, I grouped them into three categories: creating jobs, cutting spending, and keeping promises,” said Schimpf. “We need a combination of these three in order to make the level of changes our state needs and deserves.”

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About State Senator Paul Schimpf

Sen. Schimpf took the Oath of Office during the Inauguration of the 100th General Assembly, Jan. 11, 2017 at the Illinois State Capitol in Springfield, Ill. The 58th Senate District includes all or parts of Jackson, Jefferson, Perry, Randolph, Monroe, St. Clair, Washington and Union Counties and represents more than 220,000 Illinois citizens. Discover more at senatorschimpf.com and find him on Facebook.